We never know why futures bounce around from moment to moment, but the excuse du jour is commodity stockpiles . . .
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Look out below, Commodity Stockpile Edition
September 22, 2015 6:30am by Barry Ritholtz
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This is what debt overhang produces. Nothing is more deflationary than a commodities stockpile. Let’s hope it’s a hiccup and not something worse.
William Devane :”What’s in YOUR safe?”
Answer: less and less.
well i guess this is just more fallout of wage stall. since it stalled a few decades ago, but for a short time that was made up with easy credit. well easy credit died in 2008, so the end consumer buys less and less
The markets are not rational – I think psychology of the psychology. After a while of markets not going up, the fear that they may go down gains momentum. Now any little bump on the road feed into confirmation bias and becomes a trigger/excuse.
Never mind the U.S. indices. What’s worrisome is Germany’s DAX, now in a bear market with a 22.7% decline from its April 2015 high.
And that’s with the ECB still providing a QE crutch. What does it mean for us, here in QT (Quantitative Tightening) land? A test of the August lows, I reckon.
Heads down, incoming fire!